Last Month of the Financial Year 2024
| Are you a small Business? You may be eligible to claim a full tax reduction on art purchased by the end of June 2024. The Federal Government’s Instant Asset Write-Off Scheme allows eligible businesses to claim an immediate deduction for the cost of an asset (including artwork purchased for a business) in the current financial year. If your business has an aggregated turnover of less than $10 million, you can claim individual items (artworks) up to $20,000, excluding GST, each. This is an excellent opportunity to check out works through our website that could be perfect for your workspace. |
